Ann: Quarterly Activities Report , page-2

Don't know what the general consensus is to this report but IMO it's very promising, particularly the reference to "a number of interesting anomalies including significant conductors at depths over 300m within the Narracoota volcanic sequence". Seems they're prepared to dig as much as it takes!

Is there a geo or someone with significant knowledge who can provide greater clarity to the whole report?

MAGNUS COPPER PROJECT (ALCHEMY 100%)

Depth conductivity sections for each of the AMT profiles successfully delineated major geological packages and their boundaries, defined conductors that correlate well with the VTEM, gravity and known geology, and resolved new features that were not detected in the VTEM survey. In particular, the AMT conductivity depth sections image a number of interesting anomalies including significant conductors at depths over 300m within the Narracoota volcanic sequence (Figure 3).
Of the geophysical methods applied to date at Magnus, AMT appears to be the only one that has provided good correlation to mapped geology, imaged conductive responses within the resistive Narracoota volcanic sequence and has the deepest depth of penetration to over 600m.